Money flows in and out of your business via sales and costs. To help you track the flow of money through your business I’ll show you the #1 calculation you will need Sales – Cost of Goods – Expenses = Profits. Let’s discuss why this calculation is so important for you to know.    LINK TO THE KNOW YOUR BUSINESS NUMBERS COURSE 

The #1 Calculation You Need to Know for Your New Small Business

Do you have a dream to own or operate a local small business? If so, this is the podcast for you!  The Start a Local Small Business Podcast focuses on what it will take for you to go from Concept to Open for Business.  So, if you are ready to open a business that serves your local community, then subscribe today and get the resources you need to ensure the success of a thriving local small business.

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Whether you are new to the podcast or this is your last episode, we will highlight what we have been discussing over the past 30 episodes. I want you to start a new business that comes shooting strong out the gate. My goal is to save you time and money on some of the learning curves most small businesses must experience. The more you know the more successful you set yourself up to be!   

Time to Start Your New Small Business

Have you come across a great opportunity to purchase an existing business? Before you buy it, make sure you dive into those business numbers. An existing business has tons of good information to help you determine if it is a good idea or not. Remember, you want a profitable business. Sometimes, people only tell you the money they take home. But are you buying a job or a business? Make sure you know what you will make with both hats!   

What to Look for If You Buy a Local Small Business

Having a family business can be both a blessing and a curse. On many occasions, family members blur the line between business and personal. There are so many things that need to be discussed prior to going into business together or even hiring family. You need to make sure you are all on the same page. Especially if you have the most passion for the business. 

Should You Start a Family Business

Do you have your eye on a franchise that you want to buy? Buying a franchise has a whole set of things that you need to explore. We will discuss the pros and cons of buying a franchise. Many franchises would not do it again, so it is important that you do your homework and look at the pros and cons that we are going to be discussing.   

Is Buying a Small Business Franchise Right for You?

Once you decide to hire employees, there are some key things you need to know and do. It all starts with hiring the right people. Then you need to onboard them and train them properly. By doing so, you will help reduce the revolving door that many small business owners experience. The better the employee you end up with, the more sales and profits they can help create.   

The #1 Calculation You Need to Know for Your New Small Business

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